India’s only listed discount broker 5paisa.com today announced the launch of its unique service – ‘5paisa Wealth’, a new professional portfolio advisory service for their clientele. 5paisa.com is the first broker in the country to introduce portfolio advisory services for its customers. The new offering includes portfolios from leading investment advisors with proven track records. 5paisa clients can invest in these fee-based baskets to add diversification to their long-term equity portfolios.
The portfolios are created and managed by the research teams at Abakkus Investment Advisors (led by Mr. Sunil Singhania) & Alpha Portfolios (a division of Renaissance Investment Managers, led by Mr. Pankaj Murarka).
Mr Sunil Singhania, the founder of Abakkus, has a distinguished track record of over two decades in Equity Investments. Formerly, as CIO-Equities, he played an instrumental role in building Reliance-Nippon MF into one of India’s largest AMCs overseeing ~USD 11bn of equity assets. Mr Pankaj Murarka has over 25 years of experience in Equity Research & Fund Management with credible track record of performance over his professional career. In his last role, Pankaj was associated with Axis Mutual Fund as the Chief Investment Officer (CIO) managing over $2bn in Indian Equities.
Mr Prakarsh Gagdani, CEO at 5paisa.com says, “A large section of retail investors coming to the capital market – be it for the first time or those who have been in the market for some time, are looking for expert advice for their investment. Despite being in the markets, they are not clear in terms of where to invest, how to invest and how to maximize the returns on their investments and look for expert advice. Though Mutual Funds is an option, there is a section of investors who look for active participation under expert guidance.”
“5paisa Wealth aims to target that segment of investors who have a surplus of Rs 2.5 lakhs and are looking for the best fund managers in town. We are glad to associate ourselves with Sunil Singhania led Abakkus, and Pankaj Murarka led Renaissance to partner with them to provide fund management services under 5paisa Wealth.”
The Abakkus Smart Flexicap portfolio consists of growth companies from the top 250 stocks picked via a bottom-up approach, where profitability is expected to grow higher than the market averages. Mr Singhania said, “We are excited to launch Abakkus Smart Advisory portfolio’s to 2mn customers of 5paisa.” Abakkus Manages around Rs6000 Cr in PMS/AIF and the team has around 150 years of cumulative experience of tracking Equities and other markets across the globe.
The Alpha Core and Satellite portfolio comprises a blend of long-term secular growth businesses and cyclical & sectoral businesses that are likely to benefit in the prevailing economic cycle. Mr Murarka said, “We are excited to partner 5paisa Wealth and being able to bring our advisory portfolios to clients of 5paisa Wealth. 5paisa is amongst the fastest growing digital broking platform in India and in a short span it has emerged as India’s leading Digital Broking Platform. The launch of 5paisa Wealth marks the next leap in the journey of building wealth management platform for digitally native customers. Renaissance Investment Managers is excited to participate in this journey and through this alliance we endeavour to offer clients – best in class high quality advisory portfolios which are transparent, low cost with seamless experience.”
Renaissance Investment Managers is an equity focused and long-term wealth creation investment house managing customer assets and generating exceptional returns for its investors by identifying great investment ideas. Catering to around 1000+ customers and garnering an AUM of around Rs. 500 Cr, Renaissance was founded in 2016.
These portfolios have a pricing model that is based on the investment value of the client in that portfolio.